Shareholders' Equity (Notes)

6 Months Ended

Jul. 31, 2015

Shareholders' Equity and Share-based Payments

NOTE 4 — SHAREHOLDERS' EQUITY

During the first semester of fiscal 2016, the Company completed the $100.0 million share repurchase program approved by the Board of Directors in December 2014. In June 2015, the Company's Board of Directors authorized an additional share repurchase program of up to $100.0 million of the Company's common stock.

In conjunction with the Company’s share repurchase programs, 10b5-1 plans were executed that instruct the broker selected by the Company to repurchase shares on behalf of the Company. The amount of common stock repurchased in accordance with the 10b5-1 plans on any given trading day is determined by formulas in the plans, which are based on the market price of the Company’s common stock. Shares repurchased by the Company are held in treasury for general corporate purposes, including issuances under equity incentive and benefit plans. The reissuance of shares from treasury stock is based on the weighted average purchase price of the shares.

The Company’s common share repurchase and issuance activity for the six months ended July 31, 2015 is summarized as follows:



	Shares		Weighted- average price per share
Treasury stock balance at January 31, 2015	21,866,069		$	42.95
Shares of common stock repurchased under share repurchase programs	1,893,838		58.13
Shares of treasury stock reissued	(180,271	)
Treasury stock balance at July 31, 2015	23,579,636		$	44.16